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<br />V3 WBCD LOAN # 5030b5187
<br />Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
<br />insurance premiums, as required;
<br />T'hird, to interest due under the Nate;
<br />FoyLk.h�, to amortization of the principal of the Note; and
<br />F',�i, to late charges due under the Note.
<br />4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the Property, whether now
<br />in existence or subsequently erected, against any hazards, casualties, and contingencies, including fire, far which
<br />Lender requires insurance. This insurance shall be maintained in the amounts and for th� periods that Lender requires.
<br />Borrower shall also insure all imprvvements on the Property, whether now in existence or subsequently erected, against
<br />lass by floods to the extent required by the Secr�tary. All insurance shall be carried with companies approved by Lender.
<br />The insurance policies and any ren�wals shall be held by l.ender and shall include loss payable clauses in favor of, and
<br />in a form acceptable to, Lender.
<br />In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof of loss if not made
<br />promptly by Borrower. Each insurance company cancerned is hereby authorized and directed to make paymentfor such
<br />loss directly to L.ender, instead of to Barrower and to Lender jointly. All or any part of the insurance proceeds may be
<br />applied by Lender, at its option, either (a) to the reduction of the indebtedness under the Note and this Security
<br />Instrument, first ta any delinquent amounts applied in the order in paragraph 3, and then to prepayment of principal,
<br />or (b) to the restoration or repair of the damaged Property. Any application of the proceeds to the principal shall nat
<br />extend or postpone the due date of the manthly payments which are referred ta in paragraph 2, nr change the amount
<br />of such payments. Any excess insurance proceeds over an amount required to pay all outstanding indebtedness under
<br />the Note and this Securily Instrument shall be paid to the entity legally entitled thereto.
<br />In the event of foreclosure af this Security Instrument or other transfer of title to the Property that extinguishes the
<br />indebtedness, all right, title and in#erest of Borrower in and to insurance policies in force shall pass to the purchaser.
<br />5. Occupancy, F�reservation, Maintenance and Protectlon af the Property; E3orrnwer's Loan Appllcatfon;
<br />L�asehotds. Borrower shall occupy, establish, and use the Property as Borrawer's principal residence within sixty days
<br />after the executinn of this Security Instrument (or within sixty days of a later sale or transfer of the Property) and shall
<br />cantinue to occupy the Property as Bvrrower's principal residence for at least one year after the dat� of occupancy,
<br />unless Lenderd�termines that requirementwill cause undue hardshipfor Borrower, or unless extenuating circumstances
<br />exist which ar� beyond Borrower's control. Borrower shall notify Lender of any extenuating circumstances. Borrower
<br />shall nat commit waste or destroy, damage or substantially change the Praperty or allow the Property to deteriorate,
<br />reasonable wear and tear excepted. Lender may inspect the Property if the Prap�rty is vacant ar abandoned or the laan
<br />is in default. Lender may take reasonahle action td pratect and preserve such vacant or abandnned Property. Borrvwer
<br />shall alsn be in default if Barrower, during the loan application pracess, gave materially false or inaccurate infarmation
<br />or statements to Lender (orfailed to provide Lenderwith any material informatian) in connectinn with the loan evidenced
<br />by the Note, including, but not limited to, representations concerning Borrower's �ccupancy of the Property as a
<br />principal residence. If this Security Instrument is nn a leasehold, Borrvwer shall comply with the prnvisions of the lease.
<br />If Borrower acquires fee title to the Property, the leasehold and fee title shall not be merged unless Lender agrees to the
<br />merger in writing.
<br />C. Condemnatian. The proceeds of any award or claim far damages, direct or consequential, in connectian with
<br />any condemnation or other taking of any part of the Property, or for conveyance in place of candemnation, are her�by
<br />assigned and shall be paid to Lender to the extent vf the full amount of the indebtedness that remains unpaid under the
<br />Note and this 5ecurity Instrument. Lender shall apply such praceeds to the reduction of the indebtedness under the Note
<br />and this Security Instrument, first tn any delinquent amounts applied in the order provided in paragraph 3, and then to
<br />prepayment of principal. Any application of the proceeds to the principal shall not extend nr pnstpnne the due date of
<br />the monthly payments, which are referred to in paragraph 2, or change the amount of such payments. Any excess
<br />proceeds overan amount required to pay all outstanding indebtedness under the Note and this Security Instrum�nt shall
<br />be paid to the entiry legally entitled thereto.
<br />7. Charges to Borrower �nd Protectlan of l.ender's Rights in the Property. Bnrrower shall pay all
<br />governmental or municipal charges, fines and impositions that are not included in paragraph 2. Borrower shall pay
<br />these obligations on time directly to the entity which is owed the payment. If failure to pay would adversely affect
<br />Lender's interest in the Property, upon Lender's request Borrowershall promptlyfurnish to l.ender receipts evidencing
<br />th�se payments.
<br />If Borrower fails to make these payments or the payments required by paragraph 2, or fails ta pertorm any other
<br />covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly
<br />affect Lender's rights in the Properry (such as a proce�ding in bankruptcy, for condemnation or to enforce laws ar
<br />regulations), then Lender may do and pay whatever is necessary to protectthe value of the Properry and Lender's rights
<br />in the I'roperty, including payment of taxes, hazard insurance and other items mentioned in paragraph 2.
<br />Any amounts disbursed by Lender under this paragraph shall become an additional debt of Borrower and be
<br />secured by this Security Instrument. These amounts shall bear interest frvm the date of disbursement, at the Note rate,
<br />and at the option of Lender, shall be immediately due and payable.
<br />Borrower shall promptly discharge any fien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing ta the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests
<br />in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion
<br />operate to prevent the enforc�m�nt of the lien; nr (c) secures from the holder of the lien an agreement satisfactory tn
<br />Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject
<br />ta a lien which may attain priority over this 5ecurity Instrument, Lender may give Borrower a notice identifying the lien.
<br />Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
<br />8. Fees. Lender may collect fees and charges authorized by the Secretary.
<br />9. Grounds for Acceleration of Debt.
<br />(a) Default. Lender may, except as limited by regulations issued by the Secretary, in the case of payment
<br />defaults, require immediate payment in full of all sums secured by this Security Instrument if:
<br />FHA Nebraska Deed of Trust - 4/86
<br />Online Documents, Inc.
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<br />EEFHAD 0802
<br />10-21-2010 ].7:51
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